Peter Beutel
Peter Beutel
attention close dying later living market paying people point report revisit rita turn twist until weather
People are not paying very close attention to it, ... At this point this market is just living and dying with every twist and turn of weather report -- we'll probably revisit it later but it's not important until we get Rita out of our systems.
factor higher market moving plate prices
The factor that's moving prices higher is the overarching petro-political fears. This market has a lot on its plate this week.
happened happens higher human looking market nervous reasons time worst year
We don't know how much of the refinery is down or for how long. But not to negate the human tragedy, it happened at the worst time of the year seasonally. And it happens at a time the market is nervous and looking for reasons to go higher anyway.
bad good market news week
The good news is, we have a week to get ready. The bad news is that the market has all week to react.
afternoon anyone exactly friday goes gulf katrina likelihood looks market people point short talking
At this point it looks like $70 is squarely in the market's sights, and people are talking about it as a done deal, ... The likelihood is that if Katrina goes into the Gulf and we don't know exactly where it will make landfall, anyone short in this market Friday afternoon will panic.
gulf hit hurricane last market needs rita storm tropical western
This is all about Tropical Storm Rita ... obviously, the last thing that this market needs is for a hurricane to hit the western gulf where it didn't hit last time.
market prices
The market is so jittery. If anything comes out of this that is in any way escalating the situation, I think prices will go higher.
market risk situation
The market has effectively discounted most of the risk of the situation already.
cause deal extremely gas great looks offshore oil potential powerful producing regions storm threaten unlikely
It is a powerful storm with the potential to cause a great deal of damage, but it looks extremely unlikely that this storm will threaten the offshore oil and gas producing regions of the Gulf.
builds expecting last major report three
Last week's report showed builds in all three major categories, but we aren't expecting this week's report to be as bearish.
concerned cut demand drop hawks number second threats
OPEC hawks are still concerned that demand could drop dramatically during the second quarter. But with there being a number of threats to supplies, the cartel did not feel it made sense to cut output.
meet position spare unit vital
We're already in the position where every refinery unit is vital just to meet demand. We don't have any spare capacity. That's what it makes it so critical.
consumers defies hard laws point start
It doesn't make a whole lot of sense to me. It's hard to tell at what point consumers will start to balk. It defies the laws of economics.
few hard higher past prices reason solid
It doesn't make a lot of sense to me. With what's been going on the past few days, it's hard to see a solid reason why prices should be higher today. It's disturbing.